Sunday 22 October 2017

CRH lashes out over Swiss plan to fine the firm €98m

CRH has lashed out at plans by the Swiss competition watchdog to hit it with a €98m fine for allegedly breaching the law.

Switzerland's Competition Commission has "invited" CRH's subsidiaries in the country – BR Brauhandel, Getaz-Miauton, and Regusci Reco – to comment on a proposal to impose sanctions on the Association of Swiss Wholesalers of the Sanitary Industry, and all other major Swiss wholesalers. The watchdog is alleging that the companies have infringed competition law. It's proposing that the parties be levied with a total fine of CHF283m (€232m). About €98m of that would be attributable to CRH's Swiss subsidiaries, based on turnover.

"CRH believes that the position of the secretariat is fundamentally ill-founded and views the proposed fine as unjustified," the company said in a statement. "The group intends to respond to this effect in its comments to the secretariat."

Irish Independent

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